Stock Market Live Updates: BSE Sensex Drops Over 500 Points in Opening Trade as Nifty50 Falls Below 23,400
Indian equity markets are set to open flat to mildly negative, with the Gift Nifty trading at 23,477, down 15 points. This indicates subdued opening cues for domestic indices. Global markets showed broad positivity due to resilient economic data and easing geopolitical concerns. However, investors are likely to remain cautious regarding global trade developments and commodity price fluctuations, which could impact near-term market sentiment.
Nifty and Bank Nifty Performance
On June 2, 2026, the Nifty closed at 23,483.55, up 100.95 points or 0.43%. The index experienced a sharp gap-down opening at 23,229.15 but recovered throughout the session, reaching an intraday high of 23,556.95. The formation of a strong bullish candlestick pattern suggests renewed buying momentum. The Relative Strength Index (RSI) improved to 42.95, while the India VIX declined to 15.35, indicating reduced volatility. Immediate support is identified around the 23,250–23,300 range, with resistance near 23,700–23,750.
The Bank Nifty also ended on a marginally positive note, closing at 53,714.65, up 71.55 points or 0.13%. It opened sharply lower at 53,265.10 and dipped to an intraday low of 53,121.85 before recovering to an intraday high of 53,933.55. The bullish candlestick pattern reflects improving short-term sentiment, with the RSI rising to 43.62. Immediate support is seen around 53,000–53,200, while resistance is expected near 54,300–54,500.
Foreign and Domestic Institutional Activity
Foreign Institutional Investors (FIIs) continued their selling streak for the fifth consecutive session on June 2, offloading equities worth ₹8,362 crore. This trend reflects ongoing caution among overseas investors. In contrast, Domestic Institutional Investors (DIIs) maintained their buying momentum, purchasing equities worth ₹9,589 crore. This activity helped absorb the selling pressure from foreign investors and provided support to the broader market.
The market has shown resilience by absorbing early weakness and attracting buyers at lower levels. Improving participation across sectors and easing volatility have contributed to stabilizing sentiment. Hitesh Tailor, Research Analyst at Choice Equity Broking Private Limited, noted that while the recovery is encouraging, the sustainability of the uptrend will depend on the indices’ ability to surpass nearby resistance levels and maintain strength above key support zones in the upcoming sessions.
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